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Daily Current Affairs
6 May, 2025
1. What major bilateral agreement did India suspend following the April 2025 Pahalgam attack?
A. Simla Treaty
B. Lahore Declaration
C. Indus Waters Treaty
D. SAFTA Agreement
E. TAPI Gas Pipeline
Answer: C. Indus Waters Treaty
Explanation: After the April 2025 Pahalgam attack, India suspended the Indus Waters Treaty, which governs water sharing between India and Pakistan. In retaliation, Pakistan suspended the Simla Treaty of 1972.
2. Under which act are community forest rights and access to biodiversity legally recognized in India?
A. Biological Diversity Act, 2002
B. Wildlife Protection Act, 1972
C. Forest Rights Act, 2006
D. Indian Forest Act, 1927
E. PESA Act, 1996
Answer: C. Forest Rights Act, 2006
Explanation: The Forest Rights Act (FRA) 2006 provides legal recognition of the rights of forest-dwelling communities (like Adivasis) to manage forests and access biodiversity.
3. What is the primary distinction between the Digital Rupee (eâ‚ą) and UPI as per RBI?
A. UPI allows cross-border use; eâ‚ą does not
B. eâ‚ą is a store of value, UPI is not
C. UPI supports offline use; eâ‚ą does not
D. eâ‚ą is private sector issued; UPI is RBI-backed
E. Both are exactly the same
Answer: B. eâ‚ą is a store of value, UPI is not
Explanation: The Digital Rupee (eâ‚ą) is a Central Bank Digital Currency (CBDC) and can act as a store of value, whereas UPI is only a payment interface linked to bank accounts.
4. What was the reason cited by the Supreme Court for ordering liquidation of Bhushan Power & Steel?
A. High corporate taxes
B. Mismanagement of funds
C. Illegal resolution plan and ineligible bidder
D. Violation of labor laws
E. Pending environmental clearance
Answer: C. Illegal resolution plan and ineligible bidder
Explanation: The SC ordered liquidation of Bhushan Power & Steel because the resolution plan was found illegal—non-compliance with Form H and participation of an ineligible bidder under IBC Section 29A.
5. Which Indian bank recently faced a â‚ą600 crore discrepancy in its microfinance segment?
A. HDFC Bank
B. IndusInd Bank
C. Axis Bank
D. ICICI Bank
E. Kotak Mahindra Bank
Answer: B. IndusInd Bank
Explanation: IndusInd Bank discovered a â‚ą600 crore mismatch in microfinance interest income, leading to an internal audit and EY being hired for forensic investigation.
6. What concern did the Coalition for GM-Free India raise about new genome-edited rice varieties?
A. Reduced yield in dry seasons
B. High cost of cultivation
C. Lack of safety trials and environmental risks
D. Threat to exports to EU
E. Poor taste and aroma
Answer: C. Lack of safety trials and environmental risks
Explanation: The coalition opposed the genome-edited rice over health and environmental concerns and claimed the government bypassed regulatory safety tests for SDN-1 and SDN-2 genome editing methods.
7. Which organization hosted its 58th Annual Meeting in Milan attended by FM Nirmala Sitharaman?
A. World Bank
B. International Monetary Fund
C. ADB
D. WTO
E. BRICS Bank
Answer: C. ADB
Explanation: The Asian Development Bank (ADB) held its 58th Annual Meeting in Milan, which was attended by India’s Finance Minister Nirmala Sitharaman.
8. What platform did Aditya Birla Capital Digital use to launch its Digital Gold SIP?
A. Groww App
B. Upstox
C. ABCD App
D. PhonePe
E. Paytm Money
Answer: C. ABCD App
Explanation: Aditya Birla Capital Digital launched Digital Gold SIP via its ABCD App, enabling small-ticket weekly/monthly gold investments backed by 24K MMTC-PAMP vaults.
9. What change did SEBI propose that affected MSEI’s derivative product relaunch?
A. Banned SX40 index
B. Barred Friday derivative expiries
C. Increased STT
D. Mandated NSE-BSE merger
E. Taxed all index derivatives
Answer: B. Barred Friday derivative expiries
Explanation: SEBI proposed limiting derivative expiry dates to Tuesdays or Thursdays, undermining MSEI’s plan to offer Friday expiries as a unique proposition.
10. What major forex move did RBI undertake as part of liquidity management in early 2025?
A. Increased CRR
B. Halted spot dollar purchases
C. Reduced short dollar forwards
D. Allowed free-floating rupee
E. Introduced FX bonds
Answer: C. Reduced short dollar forwards
Explanation: In early 2025, the RBI reduced short dollar forward positions from $88.75B to $64.2B as part of liquidity management, while continuing spot dollar purchases to build reserves.
